Why We Like It:
Many of the oil and energy names have been showing strength. Shares of EXXI have rallied toward resistance in the $33.50-33.75 area. A breakout here could signal a run towards the 2012 highs.

I am suggesting a trigger to launch bullish positions at $34.05 with a stop loss at $32.45. Our multi-week target is $37.75.

Trigger @ 34.05

Suggested Position: buy EXXI stock @ (trigger)

- or -

buy the Sep $35 call (EXXI1222i35) current ask $1.20

Annotated chart:

Skyworks Solutions - SWKS - close: 29.63 change: +0.63

Stop Loss: 28.49
Target(s): 33.50
Current Gain/Loss: unopened

Entry on August xx at $ xx.xx
Listed on August 11, 2011
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.5 million
New Positions: Yes, see below

Why We Like It:
SWKS is a U.S.-based semiconductor company. Shares have slowly marched their way higher toward resistance near $30.00 following a multi-month consolidation sideways. After months of churning SWKS could be poised for a significant move higher.

The late July high was $30.10. I am suggesting a trigger to launch bullish positions at $30.25. Our multi-week target is $33.50.
FYI: The Point & Figure chart for SWKS is bullish with a $40.00 target.